Maybe the thought of moving to a smaller, low-maintenance home has only briefly crossed your mind, or maybe you’re seriously considering downsizing. But before you trade your too-large house in for, say, a cozy condo downtown, there are a few things to consider.
Downsizing requires quite a bit of planning: You may need to figure out what to keep and what to discard, choose between the love seat and the sofa for your new living room, and determine which furniture pieces can serve multiple functions.
Here are a few downsizing tips to help you prepare to sell your current home.
Start Reducing Your Possessions Now
The sooner you are able to get rid of furniture, household items, and knickknacks you no longer use or need, the better off you’ll be. When you do decide to sell your home, you will thank yourself for spending a few hours a week decluttering now rather than waiting to do everything all at once.
If You Can, Sell Instead of Discard
Many homeowners choose to downsize to spend less money on a mortgage and more money on fun experiences. If you are able to start decluttering weeks in advance, you will have the time to sell unwanted possessions and save the money for future vacations. Consider hosting a yard sale, posting items for sale online, or having high-end items appraised.
Have a Plan
To avoid getting overwhelmed by all the work involved in downsizing, form a plan to keep your stress at bay. Consider these planning tips:
- Make a checklist of possessions you cannot live without in your new home.
- Create a checklist of wants and needs for your new home.
- Determine which items you can pack now and which items you need to keep handy.
- Start packing your nonessential belongings.
Get Started by Working with a Real Estate Expert
One of the biggest mistakes home sellers make, whether or not they’re downsizing, is not hiring a real estate professional to make the most of their investment. An agent’s experience and knowledge will help you sell your home for the most money possible, allowing you to use the proceeds to purchase a smaller home.
Are you thinking about downsizing? Start the process by requesting a market analysis for your property. Contact us to learn more.